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Consumer Well-Being and Happiness

Abstract

The products and services people consume can contribute to their happiness and well-being. In fact, many societal problems—such as chronic diseases, suboptimal financial decisions, and environmental pollution—are related to consumption activities. Thus, there is a need to understand, and to develop better models to explain, how individuals make consumption decisions, especially those decisions that have an important impact on their well-being. This chapter includes an analysis of how consumption activities can influence consumer happiness. Specifically, it addresses the question of whether it is possible for consumers to increase their happiness through consumption activities. Research has shown that experiences make people happier than material possessions.

1. Health-Related Consumer Decisions

Several theories have been developed to explain consumer attitudes, intentions and behaviors towards health (see Weinstein, 1993, for a review). While these theories take different approaches to explain and predict health-related outcomes, they all share a common premise: that consumer health intentions and behaviors are driven by a cognitive assessment of the costs and benefits of engaging in these behaviors and by a desire to avoid negative health effects (Keller & Lehmannn, 2008). This section will discuss two important aspects of consumer health behavior: understanding health information and making healthful decisions.